The impact of institutional transformations on the development of enterprise transaction risks (by a case study of Atomredmetzoloto JSC of Rosatom state corporation)

The article deals with the risks of economic development of the nuclear industry enterprises caused by institutional changes. The need to consider transaction and compliance risks is due to their relevance for companies with considerable budget financing. The complexity and diversity of the problems of economic development at industrial enterprises, clusters and their research base that define the competitiveness of a nation state as well as other challenges of modern society determine an increased academic interest in the choice of means, methods and mechanisms to investigate and overcome them. Special attention is paid to control over factors that reduce economic efficiency and minimize the risks of development. The research objective is the authors' attempt to define and classify the risks involving violation of the established rules. It is necessary for the choice of the most adaptive instruments of their elimination. The research is based on the methodological institutional approach allowing one to reveal development patterns of enterprises depending on the external environment. As a result, the authors define the institutional transformations that may influence on the development of nuclear industry enterprises by the formation of transaction risks. The major tasks for their minimization are transparency of economic processes and corporate compliance discipline as a guarantee of sustainable development of the industrial enterprise. The identified transaction risks should form the basis for the development of mechanisms to overcome the barriers to economic development which are generated in the external and internal environment.